SHININGBANK ENERGY INCOME FUND $13.83 (Toronto symbol SHN.UN; SI Rating: Speculative) is now the subject of a takeover bid by PrimeWest Energy Trust $22.78, symbol PWI.UN on Toronto.
Shiningbank unitholders will receive 0.62 of a PrimeWest unit (with a current value of $14.12). The exchange of units will be tax-free for Shiningbank unitholders, until they sell their PrimeWest units.
The combined entity will have production of approximately 66,000 barrels of oil equivalent per day, allocated 70% to natural gas and 30% to crude oil and natural gas liquids. Shiningbank unitholders will receive a 3.3% increase in distributions per unit. PrimeWest units now yield 15.8%.
The combined company would appear to have attractive long-term prospects. However, it may take it a while to fully integrate the Shiningbank assets.
Shiningbank unitholders should exchange their units for PrimeWest units. units…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
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